Blank cheque to Brussels
British Conservatives are cautioning against the UK's potential alignment with a controversial EU Net Zero scheme, warning of possible financial consequences for households. If the link-up proceeds, households could see an increase of over £100 on their bills. UK firms may also face higher rates for emissions under the EU's green credit scheme.
Labour's move and fears of higher costs
Labour leader Keir Starmer's proposal to connect the UK with the EU Net Zero scheme has sparked concerns among Tories, who liken it to handing a 'blank cheque' to Brussels. There are worries that an upcoming summit could lead to the alignment of UK-EU emission trading schemes, potentially resulting in increased costs for UK firms.
Concerns over energy bills and alignment
Acting Shadow Energy Secretary Andrew Bowie criticized the plan, stating that it could drive energy costs even higher, contrary to Labour's promise to reduce bills. Cabinet Office Minister Lord Hunt mentioned that the Government is considering linking to the Brussels green scheme, but Tory MP Nick Timothy highlighted potential added living costs of £112 due to European alignment.
Government's stance and skepticism
Tory leader Kemi Badenoch has previously expressed doubts about achieving Net Zero by 2050, citing potential negative impacts on living standards. Although a Government spokesperson disputed the projected household cost increase, stating that any decision to link UK and EU schemes must benefit the UK.
